The invention relates generally to e-commerce and gift cards and, more specifically, to systems and methods involving gift cards having both principal and auxiliary value.
Gift cards are widely used by retailers, banks, merchants, restaurants, and other commercial establishments as an alternative monetary instrument. Historically, gift cards became popular as an efficient, and perhaps more socially acceptable, alternative to cash gifts. More recently, retailers have recognized the strong promotional and marketing value of gift cards outside of its historical use. For example, closed loop gift cards, i.e., gift cards that can only be used at specific retailers and commercial establishments, incentivize consumers to re-visit and make repeat purchases at the issuer's retail establishments. Thus, retailers have started using gift cards to promote repeat business and customer loyalty, for example, by giving away gift cards or selling gift cards at discount values. Some retailers now also offer rechargeable gift cards, which allow consumers to re-up the value of their gift cards, often at discount prices or in exchange for loyalty discounts on purchased goods. Different designs, logos, colors, and shapes of gift cards have also been used to increase the aesthetics and marketing value of the gift card.
Despite recent developments, many opportunities remain for retailers and commercial establishments to develop new and innovate ways of leveraging the strong promotional and marketing potential of gift cards.